In security analysis the prime stress is laid upon protection against untoward events. We obtain this protection by insisting upon margins of… — Benjamin Graham Copy Share Image
An investor calculates what a stock is worth, based on the value of its businesses. — Benjamin Graham Copy Share Image
The value of the security analyst to the investor depends largely on the investor's own attitude. If the investor asks the analyst… — Benjamin Graham Copy Share Image
Mr. Market does not always price stocks the way an appraiser or a private buyer would value a business. Instead, when stocks… — Benjamin Graham Copy Share Image
The investor has the benefit of the stock market's daily and changing appraisal of his holdings, 'for whatever that appraisal may be… — Benjamin Graham Copy Share Image
A price decline is of no real importance to the bona fide investor unless it is either very substantial say, more than… — Benjamin Graham Copy Share Image
... the loss of public confidence in the financial community growing out of its own conduct in recent years. I insist that… — Benjamin Graham Copy Share Image
I am no longer an advocate of elaborate techniques of security analysis in order to find superior value opportunities. — Benjamin Graham Copy Share Image
A stock is not just a ticker symbol or an electronic blip; it is an ownership interest in an actual business, with… — Benjamin Graham Copy Share Image
All the real money in investment will have to be made as most of it has been in the past not out… — Benjamin Graham Copy Share Image
The value of any investment is, and always must be, a function of the price you pay for it. — Benjamin Graham Copy Share Image
The best values today are often found in the stocks that were once hot and have since gone cold. — Benjamin Graham Copy Share Image
The purchase of a bargain issue presupposes that the market's current appraisal is wrong, or at least that the buyer's idea of… — Benjamin Graham Copy Share Image
The utility, or intrinsic value of gold as a commodity is now considerably less than in the past; its monetary status has… — Benjamin Graham Copy Share Image
In other words, the market is not a weighing machine, on which the value of each issue is recorded by an exact… — Benjamin Graham Copy Share Image
We urge the beginner in security buying not to waste his efforts and his money in trying to beat the market. Let… — Benjamin Graham Copy Share Image
The purpose of this book is to supply, in the form suitable for laymen, guidance in the adoption and execution of an investment policy. — Benjamin Graham Copy Share Image
There is something paradoxical in the fact that by establishing an export market we subject our entire domestic production to the vagaries of that… — Benjamin Graham Copy Share Image
Those with the enterprise lack the money and those with the money lack the enterprise to buy stocks when they are cheap. — Benjamin Graham Copy Share Image
It must be fundamentally wrong to reduce production of food and fiber while one-third of our population is still ill fed and ill clothed. — Benjamin Graham Copy Share Image
The intelligent investor is a realist who sells to optimists and buys from pessimists. — Benjamin Graham Copy Share Image
Intelligent investment is more a matter of mental approach than it is of technique. A sound mental approach toward stock fluctuations is the touchstone… — Benjamin Graham Copy Share Image
Many progressive economists insist that gold is now in essentially the same position as silver and that the arguments the simon-pure gold advocates use… — Benjamin Graham Copy Share Image
The art of investment has one characteristic that is not generally appreciated. A creditable, if unspectacular, result can be achieved by the lay investor… — Benjamin Graham Copy Share Image
We have not known a single person who has consistently or lastingly make money by thus "following the market". We do not hesitate to… — Benjamin Graham Copy Share Image
The essence of investment management is the management of risks, not the management of returns. — Benjamin Graham Copy Share Image
In security analysis the prime stress is laid upon protection against untoward events. We obtain this protection by insisting upon margins of safety, or… — Benjamin Graham Copy Share Image
